Watch how to download trading robots for free
Find us on Telegram!
Join our fan page
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal
Libraries

Module of Trade Signals, based on Chande Momentum Oscillator - library for MetaTrader 5

Views:
5931
Rating:
(27)
Published:
2011.08.08 19:23
Updated:
2016.11.22 07:32
\MQL5\Include\Expert\MySignals\ \MQL5\Experts\ \MQL5\Indicators\ \MQL5\Include\
MQL5 Freelance Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

The signals are formed at completed bars. Chande Momentum Oscillator is used as a custom indicator for module of trade signals. The Downward crossover of -50 level is a signal to open a long position, the upward crossover of 50 level is a signal to open short position.

The following input parameters were used when testing:

  • CMO_period: 9;
  • CMO_Shift: 0;
  • Timeframe: D1;
  • Symbol: EURUSD;
  • Lot: 0.1;
  • Stop Loss, Take Profit, Trailing: not used.

To use this module of trade signals in MQL5 Wizard, the chande_momentum_oscillatorsignal.mqh and basedonindicatorexpertsignal.mqh must be placed to terminal_data_folder\MQL5\Include\Expert\Signal\MySignals.

The module uses Chande Momentum Oscillator indicator, the chande_momentum_oscillator.mq5 must be placed to terminal_data_folder\MQL5\Indicators.
The SmoothAlgorithms.mqh must be placed to terminal_data_folder\MQL5\Include.

Chande Momentum Oscillator system

Chande Momentum Oscillator

History backtesing results (from 01.01.2010):

History backtesting results

History backtesting results

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/444

Chande Momentum Oscillator Chande Momentum Oscillator

Chande Momentum Oscillator (CMO) is a technical indicator that attempts to capture the Momentum.

CoeffofLine CoeffofLine

CoeffofLine indicator shows the most likely future price direction (2-3 bars).

FTLM-STLM FTLM-STLM

Fast Trend Line Momentum (FTLM) and Slow Trend Line Momentum SLTM) indicators show the rate of price change.

Arrows&Curves Arrows&Curves

Arrows&Curves shows signals to open and close positions.